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Multiple Tasks for the 8051

Hello there!
Iam a novice using the 8051 for a project and would like to know if it is possible to use just one 8051 to control the following functions:
-read in a signal from an inductive sensor used to measure the speed of rotation from a wheel, perform some calculations on the data and use this data to control a servomotor which requires a pulse width modulation.

-update the reading on a serial LCD connected to the Tx pin for serial communication after a certain number of pulses.

-a temperature sensor will be connected to one of the ports. The reading will be converted to a digital form using the ADC of the 8051 and used to display the temperature on 4 LED displays.

I'm thinking that it might not be possible to use one 8051 because some of the tasks are time critical. Is there a way of controlling all these components or is it impossible.
Lastly, if I were to buy an 8051, which of the models will you advise that I buy?

Pardon me for my naivety. Your response will be appreciated.